Harrow (NASDAQ:HROW) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Harrow (NASDAQ:HROW) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on HROW. Cantor Fitzgerald reiterated an “overweight” rating and issued a $94.00 price objective on shares of Harrow in a research note on Tuesday, November 11th. HC Wainwright boosted their price target on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. LADENBURG THALM/SH SH increased their price objective on Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Harrow has an average rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Trading Up 5.1%

Shares of HROW stock opened at $47.19 on Monday. The firm has a fifty day moving average of $46.84 and a 200-day moving average of $41.76. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -471.85 and a beta of 0.07. Harrow has a 52-week low of $20.85 and a 52-week high of $54.85. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.52 and a current ratio of 2.72.

Harrow (NASDAQ:HROW) last issued its earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. The business had revenue of $71.64 million for the quarter, compared to analyst estimates of $73.70 million. On average, equities research analysts forecast that Harrow will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HROW. Royal Bank of Canada increased its position in Harrow by 102.5% in the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after acquiring an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after purchasing an additional 790 shares during the last quarter. Strs Ohio bought a new stake in shares of Harrow during the first quarter valued at approximately $149,000. KLP Kapitalforvaltning AS increased its holdings in shares of Harrow by 21.4% in the second quarter. KLP Kapitalforvaltning AS now owns 8,500 shares of the company’s stock valued at $260,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Advocate Group LLC bought a new position in Harrow in the 2nd quarter worth approximately $269,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.